Now Available: Dishwashers in South Korea

From: Fast Market Research, Inc.
Published: Wed Jul 09 2014

The capacity of dishwashers is downsizing as consumers showed a preference for small-sized products. The reason for such demand is that the general size of households is becoming smaller and double-income households are growing. In order for households with two or three people to use large capacity dishwashers, consumers would need to save up dishes for several meals to run the dishwasher. However, double-income households do not frequently eat their meals at home and the number of dishes is not sufficient enough to save up in these small-sized households. Accordingly, unit price growth decreased for four consecutive years, showing only marginal growth in 2013.

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Competitive Landscape

Domestic manufacturers led dishwashers in South Korea. Multinational manufacturers penetrated the category, but remained in low volume share. Tong Yang Magic Co Ltd led dishwashers in 2013 with 37% volume share, closely followed by LG Corp. These two manufacturers witnessed an increase in volume share, while most of the other players lost share in 2013. The top two players compete with different strategies; where Tong Yang Magic provides various capacity types in the mid-economic price range, LG Corp focuses on premium priced built-in types.

Industry Prospects

Dishwashers is expected to record a decreasing trend during the forecast period although this will be much slower than the review period, resulting in a value CAGR of -2% in constant 2013 prices. Even though the double-income households and single households are providing certain levels of demand, the penetration rate will continue to decrease slowly during the forecast period. The penetration rate of dishwasher is relatively low in South Korea, recording only 12% as of 2013. In Western countries, most dishes are heavy and flat plates, whereas in South Korea, relatively lighter bowls and dishes are mostly used. Such a bowl type is not adequate for dishwasher use. The round, deep part of the bowl is better washed by hand than by dishwasher.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Dishwashers industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Dishwashers industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Dishwashers in South Korea market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products

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